ON Target of Unusually Large Options Trading (NYSE:ONON)

On Holding AG (NYSE:ONON) was the recipient of some unusual options trading on Tuesday. Traders purchased 54,810 call options on the stock. This represents an increase of approximately 187% compared to the average volume of 19,123 call options.

ON Stock Up 0.4%

Shares of NYSE ONON opened at $45.78 on Wednesday. The stock has a market cap of $28.83 billion, a PE ratio of 101.74, a price-to-earnings-growth ratio of 5.89 and a beta of 2.23. The company has a quick ratio of 2.00, a current ratio of 2.53 and a debt-to-equity ratio of 0.31. ON has a 52-week low of $34.59 and a 52-week high of $64.05. The business has a 50-day moving average price of $46.78 and a 200 day moving average price of $49.03.

Institutional Trading of ON

A number of large investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its position in shares of ON by 13.9% in the 1st quarter. Alliancebernstein L.P. now owns 19,794,811 shares of the company’s stock valued at $869,388,000 after purchasing an additional 2,416,534 shares during the period. Jennison Associates LLC boosted its position in shares of ON by 136.6% in the 1st quarter. Jennison Associates LLC now owns 4,848,438 shares of the company’s stock valued at $212,943,000 after purchasing an additional 2,798,794 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of ON in the 2nd quarter valued at about $248,113,000. Sands Capital Management LLC acquired a new stake in shares of ON in the 2nd quarter valued at about $240,177,000. Finally, Bamco Inc. NY raised its stake in ON by 3.3% during the 2nd quarter. Bamco Inc. NY now owns 4,139,974 shares of the company’s stock valued at $215,486,000 after acquiring an additional 132,756 shares during the last quarter. 36.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONON has been the topic of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $65.00 price objective on shares of ON in a report on Thursday, August 7th. Barclays boosted their price objective on ON from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. UBS Group boosted their price objective on ON from $75.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Raymond James Financial downgraded ON from a “strong-buy” rating to an “outperform” rating and set a $66.00 price objective on the stock. in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group set a $40.00 price target on ON and gave the stock an “underperform” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ON has a consensus rating of “Moderate Buy” and a consensus price target of $64.20.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.